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What is PPTRA and how does it affect the taxpayer?

April 26, 2017affect pptra taxpayer

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What is PPTRA and how does it affect the taxpayer?

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The Personal Property Tax Relief Act (PPTRA) of 1998 was intended to phase out the payment of personal property taxes on certain motor vehicles. The State no longer intends to eliminate the personal property tax, but rather provide a reduction to the taxpayer. For tax year 2008, the state provided Gloucester County residents with 35.4% tax relief on the qualifying personal property tax bills.